Lecap Asset Management Ltd. Acquires Shares of 8,377 Citigroup Inc. $C

Key Points

• Lecap Asset Management Ltd. acquired 8,377 shares of Citigroup Inc. during Q2, representing an investment of approximately $713,000.
• Citigroup's recent financial performance exceeded expectations, reporting an EPS of $1.96 for the quarter, significantly higher than the consensus estimate of $1.61, along with a revenue increase of 8.2% year-over-year.
• The company recently raised its quarterly dividend to $0.60 per share, marking an increase from the previous dividend of $0.56, with a current dividend yield of 2.5%.

Lecap Asset Management Ltd. bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,377 shares of the company's stock, valued at approximately $713,000.

A number of other large investors have also recently modified their holdings of C. Goldman Sachs Group Inc. increased its holdings in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC purchased a new position in shares of Citigroup during the first quarter valued at $578,100,000. Amundi raised its holdings in shares of Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in Citigroup by 2,230.8% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock worth $186,726,000 after acquiring an additional 2,517,459 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C opened at $97.25 on Friday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The company has a market cap of $179.02 billion, a PE ratio of 14.36, a P/E/G ratio of 0.85 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The business has a 50-day simple moving average of $96.76 and a two-hundred day simple moving average of $82.71.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is presently 35.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on C. Morgan Stanley boosted their price target on shares of Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a report on Monday. Bank of America boosted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler lifted their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Dbs Bank cut Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.68.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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